Increasing application of oxygen as apparatus and breathing aids due to rising level of pollution is other factor that contributes to the market growth.
Sarasota, FL -- (SBWIRE) -- 08/07/2017 -- Global Oxygen Market: Overview
Oxygen is a colorless gas which is a paramount factor to sustain life. Oxygen is available in cylinders, containers, and cans. They are mostly used for industrial, medical, and scientific applications. Oxygen is used as an oxidizing agent and as a catalyst in various scientific and industrial processes. The oxygen market is growing at a significant pace and the growth in the oxygen market has resulted in an increase in the related markets such as medical oxygen generators, air-oxygen blenders, and stationary and portable oxygen concentrators.
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Global Oxygen Market: Segmentation
The global oxygen market is divided into its form, application, end-users, and geography. On the basis of a form of oxygen, the market is segregated into solid, liquid, and gaseous. Based on application, the market is classified into cosmetics, pharmaceutical, automobiles, and mining and mineral processing applications. On the basis of end-users, the market is categorized into industrial, medical, and scientific sectors. Diversification of the market on the basis of the region is seen into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Global Oxygen Market: Growth Factors
The oxygen market is a growing market owing to factors such as increasing demand for oxygen in sectors such as automobiles, agriculture, chemicals, beverages, food, construction equipment, medicine, glass, space explorations, shipbuilding, and steel manufacture. Increasing use of oxygen as a catalyst and oxidizing agent and increasing application of oxygen as apparatus and breathing aids due to rising level of pollution is another factor that contributes to the market growth. However, there are certain restraining factors in the growth of the oxygen market such as lack of safety measures used while handling oxygen which leads to severe injuries and high production cost of oxygen for different purposes in the industrial and medical sector.
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Global Oxygen Market: Regional Analysis
The largest share in the oxygen market is held by the Asia Pacific region. This growth can be attributed to reasons such as the growth of manufacturing sector and healthcare. Also, growth in the mineral and mining processing, where oxygen is a key catalyst, helps in the expansion of oxygen market in the region. Regions such as China, Japan, India, Australia, and New Zealand are showing major contribution in the Asia Pacific market. The market in North America and Europe are significantly increasing owing to the increasing consumption of oxygen in the waste recycle and scientific applications. Countries such as the US and Canada in North America and Italy, Germany, the UK, France, Spain, Poland, and Russia in the European region are the major contributors. A fair share of the market is put forth by the Latin America countries such as Brazil, Mexico, and Argentina and in the Middle East and African region countries such as South Africa and North Africa.
Global Oxygen Market: Competitive Players
Some of the major companies in the oxygen market include The Linde Group, Praxair Technology Inc., Air Liquide, Airgas Inc., Taiyo Nippon Sanso, Yingde Gases, Air Water Inc, Guangdong Haute Gas Co. Ltd., and Baosteel Metal Co. Ltd.
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Global Oxygen Market: Regional Segment Analysis
The Middle East and Africa